OpenSea, amid insider trading controversy, rolls out NFT marketplace app
Summary
The app rollout comes after a wildly busy month for the platform: in August, OpenSeas website saw two million transactions, totaling $3.4 billion in trading volume and tripling activity from July. So far, the company has garnered financial backing from big names in the crypto community, including Coinbase Ventures, Blockchain Capital, and Mark Cuban. At only four years old, OpenSea hit unicorn status with its latest funding round led by Andreessen Horowitzs a16z, with participation from Coatue, Ashton Kutcher, and Shopify CEO Tobi Lutke. Flashy transactions like the $69 million Beeple sale at Christies have captured the mainstreams attention, but for co-founders Finzer and Alex Atallah, as well as others in the space, the excitement resides in whats still possible. Brokerage app Robinhood began with similar hopes of bringing a seemingly insular and highly guarded world to the masses, and in part, Finzer is comfortable with that comparison.